Parenteral Drugs is anticipated to have CAGR of ~x% over 2019-2028. Parenteral drugs are the medications using non-oral means of administration by injecting the drug directly into the body typically through three common routes of administration, which include intramuscular, subcutaneous and intravenous. The growth in the industry is attributed to the surge in the spending for the Research and Development on the biologic drugs. The increase in the favorable reimbursement scenario is anticipated to help the industry show lucrative growth in the forecast period. The increase in demand for the route of administration that shows better bio-availabilty would help the industry grow significantly.
Top Driver: Surge In Spending on Biologic Drugs to boost the industry
Parenteral Drugs is projected to grow with the increase in the research and development initiatives carried out in order to make the parenteral drugs more effective and bioavailable for the targeted site. This allows the large molecules to enter the pipeline and is attributed to help the industry gain maximum revenue shares. There are many drugs available in the injectable form and hence the further development would allow the industry to grow at a higher pace. The key players are focusing over the development of the biologic drugs, due to the growth in demand for the drugs showing quicker absorption, are susceptible to show action over the required site, and has faster onset of action. Furthermore, the drug when given parenteral surpasses the first pass effect and hence most of the drug molecules are available for showing its effect. The advantages posed by the parenteral drugs would hence help the industry to grow significantly in the forecast period.
Monoclonal Antibodies to Make Crucial Contribution to Growth of Global Parenteral Drugs Market
Among product segments of the global Parenteral Drugs market, Monoclonal Antibodies segment are anticipated to experience highest revenue growth in the forecast period. The growth is attributed to the expansion of the product lines and increase in the number of product approvals by the FDA. The large molecule drugs are biological injectable preparations which are administered to treat chronic disease like diabetes, cancer, and blood diseases, which are now observed to be commonly prevailing in the individuals of all age groups. The growth due to this segment is due to the highly biocompatible nature of the large molecules. Furthermore, the vaccines segment is expected to grow at the highest CAGR due to the surge in the investments for the R&D of the vaccine products.
Rise In Investments to Benefit North America Market
North America is anticipated to experience the highest revenue growth than any other country and is expected to boost further in the coming years. Owing to the surge in acceptance of technologically advanced healthcare system the market shares are experiencing the boost in the industry. The growth in the awareness programs for the use of parenteral drugs is attributed to help the industry show lucrative growth during the forecast period. The Asia pacific regional market is anticipated to grow at the highest CAGR, due to sure in penetration, greater untapped opportunity and increasingly improving healthcare infrastructure in emerging economies of the Asia Pacific region.
Due to outbreak of COVID-19 the Parenteral Drugs is anticipated to grow due to the boost in the investment and spending over the Research and development of the vaccines and other large molecules which can help in management of the Coronavirus disease-2.
Players to Focus on Parenteral Drugs
The global Parenteral Drugs market leaders include B. Braun, Beximco Pharma, Baxter Healthcare Corporation, Cook Pharmica, Teva Pharmaceutical Industries, Patheon, Ostuka Pharmaceutical, Kelun Pharma, Fresenius, BAG Healthcare, and Ozon Pharmaceuticals Ltd
Beximco Pharmaceuticals Ltd.: In April 2018, Beximco Pharmaceuticals Ltd. had completed the acquisition of a majority shareholding (85.22%) in Nuvista Pharma (formerly Organon Bangladesh Limited), a leading pharmaceutical company in Bangladesh specializing in hormones and steroid drugs. The two companies endorsed a non-binding Memorandum of Understanding (MoU) in October, 2017 for the proposed acquisition, which was mutually agreed upon and finalized in January, 2018.
Baxter International Inc.: In July 2017, Baxter International Inc., a global medical products company, announced the completion of the acquisition of Claris Injectables Limited, a global generic injectables pharmaceutical company. The transaction broadens Baxter’s presence in the generic pharmaceuticals space and will help boost the supply of essential medicines to Baxter customers.
Patheon: In August 2019, Patheon had merged with Royal DSM’s pharmaceutical products business to form DPx in a USD 2.65 Billion deal that led to the formation of the world’s second biggest CMO in the current scenario.
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